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George Osborne MP

Chancellor of the Exchequer

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Stories involving George Osborne

Mortgage lending is still tight despite a rise in the number of approvals in July. Mortgages advanced to customers increased to 56,000, up 7% on June, according the Council of Mortgage Lenders (CML) said.


Osborne drawn into wind farm row

George Osborne is putting pressure on David Cameron to drop some of the Coalition's green policies, including building more onshore wind-turbines, his father in law has claimed in an undercover video. A Greenpeace activist posing as an anti-windfarm lobbyist filmed Lord Howell and Tory MP Peter Lilley saying that Osborne used the recent ministerial reshuffle to "get people into key positions who could begin to get the Government off the hook from the commitments it made very foolishly".


Cameron: We will take further action on rich

The Government will take “further action” to ensure the rich contribute more towards paying down the UK’s deficit, the Prime Minister and Chancellor have signalled.

In an interview this morning, David Cameron echoed George Osborne’s insistence that the Coalition would not implement a ‘mansion tax’ or other form of wealth taxes.

He also played down the likelihood of changing the top rate of tax again, but he told the Andrew Marr Show: “We will make sure that the rich will pay their fair share, that the burden is evenly shared.”

Speaking to Sky News today, Mr Osborne ruled out a mansion tax and annual wealth levy but warned the rich will have to make an 'additional contribution' in coming Budgets.

“I don’t think either of those ideas are the right ones... we’re not going to have a new mansion tax, nor do I think it’s sensible to have a wealth tax."

Mr Cameron also confirmed the Conservatives would be looking at cutting the welfare budget further – something that Nick Clegg said he would only allow if there were corresponding measures to increase the contribution from the rich.

The Liberal Democrats are also likely to have been ruffled by Mr Osborne’s comments to the Mail on Sunday that the demands for a mansion tax were based on "the politics of resentment".


Osbo announces new Office for Unconventional Gas

George Osborne has announced the creation of a new Office for Unconventional Gas after an independent science panel gave the go ahead for the controversial fracking process, albeit under a tight safety regime. The Chancellor's ‘dash for gas’ has been criticised by environments who fear Britain will not be able to meet carbon reduction targets.


Osborne warns of future slowdown

The eurozone crisis, the US fiscal situation and a slowdown in emerging markets could usher in another global recession, George Osborne has warned a conference in Tokyo.

The warning comes as the IMF and eurozone reach a deadlock on how much of Greece's debt should be written down, with the IMF arguing £24bn writedowns will be necessary to solve the crisis.


Cable outlines industrial plans

Vince Cable has indicated improving access to finance for businesses will be a key part of the Government’s new industrial strategy which he will set out in more detail tomorrow.

Speaking in the House of Commons after Labour was granted an Urgent Question, the Business Secretary confirmed the Government was “actively looking” at the possibility of setting up a business bank to improve access to finance.

Other key areas he highlighted were dealing with problems sector-by-sector, improving technology, better skills for workers, and changing public sector procurement.

Dr Cable’s Labour counterpart Chuka Umunna was given the opportunity to scrutinise the plans ahead of the Business Secretary's announcement tomorrow.

Earlier today, the Business Department unveiled plans to exempt thousands of small businesses from health and safety regulations. At least 3,000 regulations, which some businesses have complained are holding them back, are to be removed.

Dr Cable promised the Government would now be "holding departments' feet to the fire to ensure all unnecessary red tape is cut".